We challenge you to find a better location. Few addresses can
place you so exactly in the center of entertainment. Few towers can so
dramatically alter a skyline and elevate a citys architectural
standards. Few properties can create a new way to game, a new way to
relax, a new way to play, indeed, a new way to experience the city you
love. The Cosmopolitan Resort & Casino is creating a new paradigm
of Las Vegas living at one of the most sought-after addresses in the
world, the corner of Harmon Avenue and the Las Vegas Strip.

Following the groundbreaking in October 2005, The Cosmopolitan
finalized construction financing through Deutsche Bank in January 2006.
Since that time, the development has made significant progress. In the
summer of 2006, Perini Building Company began a massive excavation of
the site, removing an unprecedented 800,000 cubic yards of earth,
making way for a 4,000-car subterranean parking garage. By January of
2007, the project will go vertical with concrete and steel and it is
projected to open in early 2009.

Condo-hotel residences at The Cosmopolitans 700-unit Tower at The
Beach Club have been in high demand. Following the record-setting
sell-out of the 1,300-unit West Tower, this is tremendous news for the
market. Adjacent to the Cosmo Beach Club, the Tower features elegantly
appointed Studio, 1-bed- room and penthouse condominiums with plush,
designer interiors, marble bathrooms, flat-screen televisions and
spacious terraces. Floor-to-ceiling windows will frame breathtaking
views of the famed Bellagio fountains, the Eiffel Tower at Paris Las
Vegas, the skyline at New York, New York, the Mandalay Bay Resort and
the majestic Red Rock Canyon. Elevators from the Tower will connect
directly with high-end shopping, state-of-the-art convention and gaming
spaces, a 1,800 seat production theater, and the freshest collection of
restaurants in Vegas.

"The Cosmopolitan represents a new era in Las Vegas development," says
Ian Bruce Eichner, visionary developer behind The Cosmopolitan. "We're
building something different on The Strip, the likes of which Las Vegas
has never seen before and may never see again. The sheer 'verticality'
of this development as it towers 600 feet above The Strip is more akin
to the urban terrain of Manhattan, or other cosmopolitan cities around
the world." Eichner, has spent more than 30 years developing renowned
luxury high-rise residential, office, hospitality, and retail space in
such prominent locations as Manhattan and South Beach Miami.